Current price: 64
Key point: 61.4
Our preferred direction: buy positions at the highest levels of 61.4, targeting 66 as the first target, then 67.7 as the second target.
Alternative scenario: Stop the loss and change the trend by breaking the 61.4 level, while targeting the 60 levels
Technical commentary
The mine stock is trading in a downward direction on the daily frame, in a downward direction from the peak of last September, penetrating the ascending price channel down until it reached the pivotal support levels 60.5-61.4.
These levels correspond to the BAT harmonic pattern with 88% Fibonacci retracement of XA leg
The stock is expected to rise to levels of 65.7, then levels of 67.7
